The Independent Uganda: You get the Truth we Pay the Price
KAMPALA, UGANDA | THE INDEPENDENT | Housing Finance Bank (HFB) and the Uganda Energy Credit Capitalization Company (UECCC) have recently launched a partnership to accelerate the adoption of renewable energy solutions in Uganda. With a Shs5 billion credit facility dedicated to financing solar energy, biogas, and other sustainable energy solutions, this collaboration will drive Uganda’s energy transition and expand affordable electricity access for businesses, households, and off-grid communities.
The partnership aligns with Uganda’s Vision 2040, which prioritizes increasing energy access as a key driver of economic transformation. It also contributes to Sustainable Development Goal 7 (Affordable and Clean Energy) and Sustainable Development Goal 13 (Climate Action) by providing financial support to businesses and individuals investing in clean energy solutions.
The Managing Director of Housing Finance Bank, Michael Mugabi reaffirmed the bank’s commitment to green financing, saying: “As Housing Finance Bank, we believe that sustainable energy financing is not just a business opportunity—it is a responsibility. This partnership with UECCC is part of our long-term strategy to provide innovative financial solutions that support Uganda’s transition to renewable energy.”
The Managing Director of UECCC, Roy Nyamutale Baguma highlighted the significance of the collaboration in advancing Uganda’s energy financing landscape, stating: “UECCC is dedicated to catalyzing private sector investments in renewable energy. By working with financial institutions like Housing Finance Bank, we are breaking barriers that have long hindered access to financing for clean energy projects. This partnership will not only provide affordable loans but also create employment opportunities and improve energy security in Uganda.”
With Uganda’s solar energy potential estimated at 5.1 kWh/m²/day, among the highest in Africa, and the renewable energy market projected to grow at a CAGR of 8.4% globally, this initiative places Uganda at the forefront of green energy financing.
The Shs5billion credit facility will be available to businesses and individuals seeking financing for solar systems, biogas solutions, and other sustainable energy technologies, ultimately reducing dependence on biomass and fossil fuels.
